POC market poised to grow
By HME News Staff
Updated Tue November 15, 2016
VALLEY COTTAGE, N.Y. - The global portable oxygen concentrators market is projected to grow at a CAGR of 7.8% in terms of revenue over the forecast period 2016-26, according to Future Market Insights. “Rising prevalence of COPD, growing consumer awareness of oxygen therapy devices and changing consumer lifestyle are reasons (that) have escalated demand for portable oxygen concentrators in the near future,” the consulting firm says. Future Market Insights also credits adoption of new technologies and rising investment by companies manufacturing homecare products as reasons for the revved up growth. Among the various products in the POC market, pulse-flow POCs will grow at a CAGR of 9% and is the more preferred product. Some of the top companies operating in the POC market are Koninklijke Philips N.V., Inogen, Chart Industries, Resmed, Invacare, Drive DeVilbiss Healthcare, Precision Medical, Besco Medical Co., Oxus America, Foshan Keyhub Electronic Industries Co., O2 Concepts and GCE Group.
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